APAC FinTech Spotlight, April 24'
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Trending News
Vietnam is one of the most promising markets for fintech in Southeast Asia, with the payments segment continuing to lead the way. While talk of Vietnam going truly cashless is premature, there is a steady transition to digital payments in the country. Data compiled by the State Bank of Vietnam show that non-cash payment transactions increased by 63.3% in volume and 41.45% in value in January, compared to the same period in 2023. Many Vietnamese banks now have over 90% of their transactions conducted via digital channels. Read more.
The Philippines in late March began to blocking access to Binance, the world’s largest cryptocurrency exchange by trading volume. The country’s Securities and Exchange Commission (SEC) said it received the assistance of the National Telecommunication Commission (NTC) to block access to Binance’s website and online trading platform, according to a statement published by the SEC. Read more.
Digital banks have sprung up across Asia in recent years. In many cases, they are having little impact on the overall banking market. Affluent societies like Singapore, Hong Kong, Japan and Taiwan are not lacking banking options. Even middle-income countries like Malaysia and Thailand have limited financial inclusion needs. Read more.
While the buy now, pay later (BNPL) concept has proven immensely popular with consumers worldwide, developing a sustainable business model as a BNPL focused fintech is a challenging endeavor. For that reason, it is always noteworthy when a BNPL firm reaches the profitability milestone. The Philippines’ Billease, founded in 2017, appears to have done so in 2023. Read more.
Conversations from Money20/20 Asia | 23-25 April, Bangkok
Catch all of the insightful interviews on YouTube page.
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About Kapronasia
We are one of Asia's leading providers of strategic consulting and market research on the Asia-Pacific financial services industry covering banking, payments, and capital markets. From our offices across the region, we work with some of the biggest brands in the industry to help them uncover unique insights into the market. Feel free to get in touch with us for personalised solutions or any inquiries.